French multinational energy major Total SA has entered into a joint venture with Adani Green Energy Limited (AGEL), the renewable energy company of the Adani Group. Total has invested Rs 3,707 crore for a 50 per cent partnership in the joint venture company.
AGEL in a public statement said the joint venture has 2 GW of operating solar projects operating across 11 states in India.
It said the portfolio also includes the Restricted Group 1 & 2 projects, which had recently raised USD 862.5 million from the international bond markets. Restricted Group 2 was the first Investment Grade rated issuance (rated BBB-/Baa3/BBB-) by a renewable business in India and was widely recognised by global capital markets and international publications, said AGEL.
